§ 68-3702. Legislative intent.

It is the intent of the Legislature that:

1.  The State of Oklahoma provide appropriate incentives to support establishments:

a.that hold promise of retaining and gaining jobs when the State of Oklahoma is in competitive situations with other states or nations,

b.when there is a direct threat to the existing revenue base and wealth of the state because existing jobs are at risk, and

c.provided, however, new jobs must be created in conjunction with provisions of incentives to retain at-risk jobs;

2.  The State of Oklahoma provide appropriate incentives to support establishments that hold the promise of growth in strategic industries that yield higher long-term benefits for job retention and increasing the wealth of the state and which create competitive advantages for the State of Oklahoma in attracting and retaining industries and thus jobs;

3.  The State of Oklahoma provide appropriate incentives to establishments that locate in areas of the state that would be highly impacted statistically in their labor forces when establishments locate in such an area;

4.  The State of Oklahoma provide appropriate incentives to establishments that reduce continuing unemployment for citizens by employing the chronically unemployed;

5.  The Oklahoma Department of Commerce and the Oklahoma Tax Commission implement the provisions of the Saving Quality Jobs Act and exercise all powers as authorized in this act.  The exercise of powers conferred by the Saving Quality Jobs Act shall be deemed and held to be the performance of essential public purposes; and

6.  Nothing herein shall be construed to constitute a guarantee or assumption by the State of Oklahoma of any debt of any individual, company, corporation or association nor to authorize the credit of the State of Oklahoma to be given, pledged or loaned to any individual, company, corporation or association.

Added by Laws 1994, c. 322, § 2, emerg. eff. June 8, 1994.